Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Managing Director and Group CEO of Abu Dhabi National Oil Company (ADNOC), said on March 23 that weaponizing the Strait of Hormuz amounts to economic terrorism with global consequences beyond energy markets.
Speaking at CERAWeek in Houston, Texas, Al Jaber said threats to the Strait impact people worldwide. “Energy security is not just a slogan, it’s the difference between lights on and lights off,” he said. He described the strait as a critical artery for global energy supplies: “Twenty-one miles wide. Twenty million barrels a day. Nearly a fifth of the world’s oil and gas… much of the oxygen of the global economy runs through a single throat.” According to Al Jaber, Iran’s actions threaten this vital passageway.
Al Jaber stated that recent events have caused oil prices to rise by 50 percent in three weeks, increasing costs for consumers globally. “So let me be absolutely clear. Weaponizing the Strait of Hormuz is not an act of aggression against one nation. It is economic terrorism against every nation,” he said.
He explained that ADNOC has faced direct impacts from these developments: “At ADNOC, we took hits no civilian enterprise… should ever have to take.” He added that extraordinary measures are being taken to ensure safety and maintain supply continuity.
Al Jaber also highlighted long-term investments by ADNOC in U.S. energy assets totaling more than $85 billion across 19 states, supporting power generation and advanced chemicals jobs.
Looking ahead, Al Jaber invited global energy leaders to attend ADIPEC in November for discussions on strengthening resilience within the sector: “If you believe that collaboration should prevail over conflict, then your place is with us… I invite you to join us at ADIPEC this November… for a working session on the resilience of the global energy system.”
